Stock Slides After Warning
Of Loss for Fourth Quarter

a Wall Street Journal Staff Reporter

Updated Dec. 6, 1999 11:50 a.m. ET

Shares of Carmike Cinemas Inc. fell 17% after the Columbus, Ga., theater chain warned it would post a fourth-quarter loss. Analysts had expected earnings of 17 cents a share, according to First Call/Thomson Financial.

Martin A. Durant, Carmike's chief financial officer, cited expenses associated with the opening of 304 screens this year. He said revenue will be lower than expected because the company didn't have hit movies in the early part of November. Mr. Durant also said the company's projections were smaller than...